Papa John's founder resigns as chairman over N-word controversy

Papa John's founder apologizes for using N-word during sensitivity training conference call

But on Wednesday, Mr. Schnatter acknowledged as true a report that he had used the n-word in a conference call in May. Schnatter issued an apology for using the "N-word" He reportedly said the racial slur while complaining that Colonel Sanders of Kentucky Fried Chicken got away with saying it.

"Regardless of the context, I apologize", the statement says.

Schnatter, who founded the company in 1984, resigned as chief executive in December a year ago, after blaming slowing sales growth on the outcry surrounding football players kneeling during the national anthem.

Forbes reports that Papa John's shares have declined by 25 percent since Schnatter made his initial remarks positioning his company's profits above the spirit of the National Football League protests, which are, for many black people in this country, a matter of life-or-death.

Papa John's issued an apology after the November 1 conference call distancing itself from Schnatter's comments.

Although Schnatter apparently was trying to show that he's opposed to racism (gutsy move, John), multiple persons on the call found Schnatter's remarks to be offensive. "No member of the board of trustees condones racism or insensitive language regardless of the setting".

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In a statement Wednesday evening, the company "announced that the independent directors of the company have accepted the resignation of John H. Schnatter as Chairman of the Board".

Laundry Service, which is owned by sports agency owner Casey Wasserman, reportedly cut ties with an unnamed client in late May due to "the regrettable recent events that several employees of Laundry Service witnessed during interactions with a client's executive", according a letter obtained by Bloomberg.

In an email statement to Forbes, Schnatter confirmed using the n-word.

The rift between Schnatter and Jurich led to Schnatter resigning his seat on the U of L Athletics Association, the athletics governing board.

A spokeswoman for this marketing company, Laundry Service, told Insider that they have no comment on the Forbes story.

Shares of Papa John's Pizza (PZZA) fell almost 6 percent after the report, and ended Wednesday trading down 4.8 percent. After all, he founded the Papa John's chain right there in his hometown - and, more recently, donated $800,000 to help renovate the historic building.

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